Budgeting Basics
This is the act of planning how you'll spend your money each month.
What is budgeting?
This 3 digit number helps lenders determine how risky it is to lend to you.
What is a Credit Score?
The type of account often used to save for retirement.
What is an Individual Retirement Account,or Roth IRA?
The government pays interest on this type of loan while you're in school.
What is a Subsidized Loan?
The form your employer gives you that shows how much you earned and paid in taxes.
What is a W-2?
A popular rule that allocates 50% for needs, 30% for wants, and 20% for savings/debt.
What is the 50/30/20 rule?
Failing to pay your credit card balance can lead to this type of financial charge.
What is interest?
Buying a small piece of a company through the stock market is known as:
What is a stock?
This form of aid doesn't need to be repaid.
What is a grant or scholarship?
This tax funds Social Security and Medicare.
What is FICA?
The type of expense that stays the same each month like, like rent or a car payment.
What is a Fixed Expense?
The legal maximum interest rate a lender can charge.
What is Usury Rate?
A diverse portfolio reduces this type of risk.
What is Investment Risk or Unsystematic Risk
The standard federal loan repayment term.
What is 10 years?
A legal way to reduce the amount of income subject to taxes.
What is a Tax Deduction?
The app-based method often used to track and categorize spending.
What is a budgeting app like, Mint etc?
The percentage of available credit you're using.
This type of fund pools money from many investors to by a diversified set of investments.
What is a mutual fund or ETF?
A federal program that forgives loans after 120 qualifying payments for public service workers.
What is Public Service Loan Forgiveness?
The form you fill out when you start a job to determine your tax withholding.
What is a W-4?
The term for money set aside for unplanned expenses.
What is an emergency fund?
Type of debt consolidation tool often used by students or consumers in trouble.
What is Debt Management Plan?
The concept that money today is worth more than the same amount in the future.
What is the Time Value of Money?
What is Capitalized Interest?
The IRS deadline for filing individual income tax returns.
What is April 15th?